Within days of founder Andrey Khovratov’s arrest in Russia last month, EvoRich announced a partnership with Bobcoin.
Now EvoRich affiliate investors are being ushered into Bobcoin, which for all intents and purposes has morphed into a exit-scam offramp.
Bobcoin is built around Bob Eco Ltd
with the goal of inventing an electric motorcycle that was powerful, beautiful, and with zero emissions.
What does that have to do with cryptocurrency?
Nothing. It was just an an excuse to launch a shitcoin last year and profit. And so we have bobcoin (BOBC).
After insiders were preloaded in over the past year, BOBC began publicly trading in March 2022.
BOBC followed the typical shitcoin public pump and dump trajectory…
…until Khovratov’s arrest and the transition over from EvoRich. Now BOBC is being propped up by desperate EvoRich investors.
You can see early BOBC investors cashing out multiple times in the chart above after April 3rd.
Bobcoin and Bob Eco Ltd are run by Bob Ultree.
Ultree is based out of Dubai, the MLM scam capital of the world. Bobcoin Eco Ltd is represented to be a Hong Kong shell company.
Seeing as Khovratov was apprehended at an airport, he likely knew of his pending arrest. Or at the very least knew he and EvoRich were under investigation.
To that end plans to integrate Bobcoin into the EvoRich Ponzi scheme began mid March, or at least that’s the official timeline being pushed out.
As per a March 26th Bobcoin “announcement”;
Dear Evorich Member,
We, at the request of Mr Andrej Khovratov, have the honour to bring you the good news he announced last Saturday, 19 March 2022, during the closed meeting;
In March 2021, Mr Khovratov privately invested in Bob Eco by purchasing BOBC Tokens. He bought one million tokens for $0.30 per Token.
This suggests Bobcoin insider token preloading began well before the early 2022 public launch. It’s worth noting Bobcoin’s public website domain (“bobcoin.eco”), was only registered on January 26th, 2022.
Charity Socks BV is listed as the owner, through an incomplete address in the Netherlands.
Charity Socks BV appears to be some failed charity initiative, presumably run by Bob Ultee.
Charity Socks’ website has been abandoned. The last post on the company’s official FaceBook page is dated February 2021, around the time bobcoin was purportedly created.
Today Charity Socks BV appears to be nothing more than a Dutch shell company.
To what extent funds invested in bobcoin might be laundered through Charity Socks BV is unclear.
As expected, the development of the Bob project went very well and even beyond everyone’s expectations. The value of Bobcoin Token rose to almost $ 11.00 within a brief period of time.
Must have been extraordinarily brief, CoinMarketCap’s ATH for BOBC is $3.89.
Mr Khovratov requested the management of Bob Eco and the STO-CAP if he would be able to divide his investment (Bobcoins) over his members by putting his personal investment into the WCRU Global Investment Portfolio.
Since the coins are his, he is free to do this. We would be happy to welcome all Evorich members as customers/members/investors on the STO-CAP!
All Evorich members will receive an e-mail from the STO-CAP with their login and password in the coming weeks. After login in, you will get your Bobcoins in your wallet.
WCRU, EvoRich’s worthless Ponzi points, are being converted to BOBC at a 2550:1 exchange rate.
During the first months and the release year, all Bobcoins on the STO-CAP are subjected to a defrosting schedule to prevent dumping on exchanges.
STO-CAP is what Bobcoin calls its inhouse crypto wallets. It essentially functions as the company’s backoffice.
Unfortunately for EvoRich investors moving over to Bobcoin, they’ll have to sit idle and watch insiders cash out.
If recruitment of new gullible investors doesn’t keep up, they’ll then be left bagholding another worthless token.
Zooming out, Bobcoin is effectively EvoRich and Khovratov’s exit-scam.
Khovratov has been ordered detained until May 10th. It’s unclear what happens after that.
Either Russian authorities will make an example of him, or palms will be greased and he’ll turn up in Dubai or some other crime haven at some point.
Russian sanctions currently in place might delay any plans considerably.
Meanwhile over in the Netherlands, local media are asking uncomfortable questions.
According to Bob Eco’s website, 3271 mopeds and motorcycles have actually been delivered, a number that has not been changed since the end of November.
Another 81,000 units are said to be in the pipeline. According to Ultee, this requires careful planning, because the mopeds and motorcycles are driven within three months of production at the latest, otherwise the battery will be broken.
He would also have to deal with customs clearance problems, because there is no good code available at customs in Africa.
That would explain why the number of mopeds on the road has not increased since November.
Quote goes onto point out bobcoin’s unreported marketcap, which Ultee explained away “as a result of ‘the algorithms’”. This of course makes no sense.
Quote’s previous coverage of bobcoin saw Ultee take them to court.
On 2 points he found the judge on his side. The judge ruled that we had wrongly suggested in the article in question that Ultee had had no or hardly any mopeds produced.
We also concluded too quickly that United Nations subsidiary Unitar has never heard of Ultee or his organization.
Although we have lodged an appeal against this judgment, you will find a correction in our April issue.
We were, however, in the right on other points. For example, the court does not consider it unlawful that we made the comparison with OneCoin, where investors saw their money evaporate and were left disappointed.
OneCoin of course needs no introduction. And certainly bobcoin tying itself to a Russian Ponzi scheme strengthens ties to suspected fraud.
Remember, Bobcoin claims Khovratov was an early investor who got in March 2021 – a year before anything was made public.
What the bobcoin transition means for EvoRich as a company going forward is unclear. WCRU is dead…
…with Bob Ultee and Bobcoin being positioned as new custodians of the EvoRich investor base.
For Bobcoin, the journey has just begun. We introduced the coin 2-3 weeks ago on several exchanges, and in the following weeks, more exchanges will be added.
Bobcoin is currently publicly trading between $1.50 and $2.00. Before summer, the price is expected to move to $10-20 and the end of the year to $50.00.
As far as I can tell there’s no MLM structure attached to Bobcoin, at least not directly.
This means our coverage will likely end here – pending further details of Khovratov’s criminal case in Russia.
If Khovratov makes it out of Russia there are two immediate possibilities:
- Khovratov will be reintegrated into Bobcoin and resume running the show; or
- Khovratov will disappear to enjoy what he’s stolen through Skyway and EvoRich over the years.
Language barriers are significant here but I’ll try to track what happens.
Update 6th May 2022 – The missing piece to this article was Bob Ultree’s connection to EvoRich.
The press-release very much suggests Andrey Khovratov got involved in Bobcoin. In fact it was the other way around.
A reader sent in a Bobcoin video in which Ultee admits he’s an EvoRich affiliate investor:
[22:06] So I met Andrey for the first time in Moscow, uh in Dubai. My other house.
So at that moment I was meeting Andrey, also with EvoRich I have a responsibility and there’s also a charity piece in EvoRich, because I was already myself participating in EvoRich. And with that investment, he (Khovratov) was listening to me.
Ultee goes on to disclose he shared his Bobcoin idea with Khovratov but was knocked back.
Ultee claims Khovratov told him
It might be too fast, it might be too young. Because what you’re doing might not be the road that we’re taking.
What we can confirm from this is with Bobcoin, we have a confirmed Ponzi investor spinning off their own shitcoin scheme.
Interestingly, Ultee also claims he loaded lawyers with bobcoin early on to secure legal opinions regarding the company.
[24:10] So we took a very long time to find a good jurisdiction.
For crypto we found a good jurisdiction in Hong Kong. Uh, where crypto is very welcome and possibilities are there.
Where is it not possible? Where it is the most difficult is the SEC in the US, which is one of the most hard authorities. So we don’t start there.
I agree with Ultee. Committing securities fraud from Dubai through a Hong Kong shell company is definitely easier to commit securities fraud than from within the US.
The issue of course is not from where EvoRich, Bobcoin and Ultee commit securities from, it’s that they’re comitting it at all.